Increasing Revenue of Nuclear Power Plants With Thermal Storage

Borowiec, Katarzyna; Wysocki, Aaron; Shaner, Samuel; Greenwood, Michael S.; Ellis, Matthew

doi:10.1115/1.4044800

Increasing Revenue of Nuclear Power Plants With Thermal Storage

Journal Article · Wed Sep 25 00:00:00 EDT 2019 · Journal of Energy Resources Technology

DOI:https://doi.org/10.1115/1.4044800· OSTI ID:1632104

Borowiec, Katarzyna ^[1]; Wysocki, Aaron ^[2]; Shaner, Samuel ^[3]; Greenwood, Michael S. ^[2]; Ellis, Matthew ^[3]

Department of Nuclear, Plasma and Radiological Engineering, Univ. of Illinois at Urbana-Champaign, IL (United States)
Oak Ridge National Lab. (ORNL), Oak Ridge, TN (US). Reactor and Nuclear Systems Division
Yellowstone Energy, Oak Ridge, TN (United States)

Introducing large amounts of electricity produced from variable renewable energy sources such as wind and solar decreases wholesale electricity price while increasing the volatility of the market. These conditions drive the need for peak-load power generation, while regulation requirements fuel the push for flexible power generation. The increase of variable renewable energy in the market share, along with falling natural gas prices, makes nuclear power plants less competitive. Thermal storage is being considered to increase the nuclear power plant revenue. Thermal storage increases the flexibility of the nuclear plant system without sacrificing its efficiency. There are multiple opportunities to increase the nuclear power plant revenue, including increased capacity payments, arbitrage, and ancillary services. An economic analysis was performed to investigate the revenue increase of the system with thermal storage. The investment cost was assessed, and net present value was evaluated for the considered scenarios. Two system designs were considered in the analysis: a thermal storage system using the existing power conversion infrastructure and an integrated design with thermal storage fully incorporated into the reactor system design. The preliminary analysis showed that introducing a thermal storage system is profitable for some scenarios considered. Profitability depends significantly on the storage size, output flexibility, share of variable renewable energy, and market characteristics.

View Accepted Manuscript (DOE)

Research Organization:: Oak Ridge National Laboratory (ORNL), Oak Ridge, TN (United States)

Sponsoring Organization:: USDOE

Grant/Contract Number:: AC05-00OR22725

OSTI ID:: 1632104

Journal Information:: Journal of Energy Resources Technology, Journal Name: Journal of Energy Resources Technology Journal Issue: 4 Vol. 142; ISSN 0195-0738

Publisher:: ASMECopyright Statement

Country of Publication:: United States

Language:: English

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25 ENERGY STORAGE
Design
Nuclear power stations
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Energy generation
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Increasing Revenue of Nuclear Power Plants With Thermal Storage

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